Zillow Advice: Refinance - I have a mortgage interest only, my condo has reduce the value, how can I do to refinance ? http://www.zillow.com/advice-thread/I-have-a-mortgage-interest-only-my-condo-has-reduce-the-value-how-can-I-do-to-refinance/410882/ Zillow Advice | Zillow Real Estate Wayne :the interest rate ... http://www.zillow.com/advice-thread/I-have-a-mortgage-interest-only-my-condo-has-reduce-the-value-how-can-I-do-to-refinance/410882/ Wayne :the interest rate is 6.75 what can I do? No option to refinance? Manuel, I checked Fannie and Freddie Mac do not own my loan. <br/>what is 125% HARP refinance program? Sat, 13 Aug 2011 14:48:00 GMT http://www.zillow.com/advice-thread/I-have-a-mortgage-interest-only-my-condo-has-reduce-the-value-how-can-I-do-to-refinance/410882/ 2011-08-13T14:48:00Z If your mortgage is interest ... http://www.zillow.com/advice-thread/I-have-a-mortgage-interest-only-my-condo-has-reduce-the-value-how-can-I-do-to-refinance/410882/ If your mortgage is interest only the payment is likely to be less than a payment even at today's low rates. What is your current interest payment?<br/>The likelihood of being able to refinance though is virtually nil. Wed, 10 Aug 2011 13:52:00 GMT http://www.zillow.com/advice-thread/I-have-a-mortgage-interest-only-my-condo-has-reduce-the-value-how-can-I-do-to-refinance/410882/ 2011-08-10T13:52:00Z First check to see if Fannie ... http://www.zillow.com/advice-thread/I-have-a-mortgage-interest-only-my-condo-has-reduce-the-value-how-can-I-do-to-refinance/410882/ <p>First check to see if Fannie Mae or Freddie Mac own your loan.&nbsp; Google Fannie Mae loan look up and Freddie Mac and enter your info.&nbsp; It will tell you right away if any of these agencies own your loan.<br/><br/>If so, you may qualify for the 125% HARP refinance program.&nbsp; You can check to see if the bank or servicing company (company you are&nbsp;paying every month) you are currently with offers this program.&nbsp; If not, I have some sources that will go to 125%.</p> Wed, 10 Aug 2011 13:48:00 GMT http://www.zillow.com/advice-thread/I-have-a-mortgage-interest-only-my-condo-has-reduce-the-value-how-can-I-do-to-refinance/410882/ 2011-08-10T13:48:00Z I owe 500k, my condo value ... http://www.zillow.com/advice-thread/I-have-a-mortgage-interest-only-my-condo-has-reduce-the-value-how-can-I-do-to-refinance/410882/ I owe 500k, my condo value is now 415K.&nbsp; I don't have a lender, can somebody tell me if I have any possibility to refinance and if so, how?&nbsp; I do have&nbsp; and excellent credit <br/><br/>Thanks Wed, 10 Aug 2011 04:40:00 GMT http://www.zillow.com/advice-thread/I-have-a-mortgage-interest-only-my-condo-has-reduce-the-value-how-can-I-do-to-refinance/410882/ 2011-08-10T04:40:00Z It will depend on how much ... http://www.zillow.com/advice-thread/I-have-a-mortgage-interest-only-my-condo-has-reduce-the-value-how-can-I-do-to-refinance/410882/ It will depend on how much you owe and how much is your condo now worth. Check that out first and speak with your current lender. Tue, 09 Aug 2011 22:08:00 GMT http://www.zillow.com/advice-thread/I-have-a-mortgage-interest-only-my-condo-has-reduce-the-value-how-can-I-do-to-refinance/410882/ 2011-08-09T22:08:00Z